Only four directors of three listed companies complied with rules regarding minimum 2-per cent shareholding

[Source: The New Age] Only four directors of three listed companies complied with rules regarding minimum 2-per cent shareholding by each director of a listed company though the Bangladesh Securities of Exchange Commission on July 2 gave 61 non-compliant directors of 22 companies 45 days to ensure required amount of shareholding in their respective firms.

The BSEC asked the directors to comply with the rules to keep their directorship in their respective entities.

The commission also warned of necessary legal action against the non-compliant directors.

BSEC officials said that four directors of three companies had bought shares to comply with the directive by the timeframe.

Kay & Que directors Tajear M Awal and Pragati Insurance bought 1.13 lakh and 17,500 shares of the company recently, and Umme Khadiza Meghna bought more than 3 lakh shares of Karnaphuli Insurance Company and Meghna Life Insurance Company to keep her directorship in both the companies.

The investors became active on the trading floor after the regulator asked the companies to comply the rules.

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